Data shared by burn transaction tracker Shibburn shows that since last night, a substantial portion of meme coins have been destroyed. Meanwhile, the Shiba Inu price continues to recover after hitting a major high recently.
Data shared by burn transaction tracker Shibburn shows that since last night, a substantial portion of meme coins have been destroyed. Meanwhile, the Shiba Inu price continues to recover after hitting a major high recently.
Nearly 30 million SHIB burned to ashes
The aforementioned data source shows that in the last 24 hours, the joint efforts of the SHIB army have helped transfer a total of 28,709,351 SHIB meme coins to an unusable blockchain address and out of circulation supply forever. This has been achieved thanks to six transactions targeting SHIB burned wallets. The two largest carried 21,657,489 and 6,824,773 SHIB.
Therefore, another step, albeit a small one, has been taken towards Shiba Inu becoming a scarce asset.
SHIB makes a major price correction
Over the past two days, the second most popular meme cryptocurrency, Shiba Inu, has recorded a massive drop in price, losing a whopping 19.20%. The drop registered in the last 24 hours constituted 13.17% of that value. After a recent spike when SHIB burned two zeros and hit the $0.00003 level, it has already recovered to trade at $0.00002811.
The popular meme cryptocurrency has been following the major Bitcoin correction that began after the world’s pioneering cryptocurrency hit a new all-time high two days ago, reaching $73,750. At this point, Bitcoin has plummeted to the price of $68,321.
